Zurich Financial Services Group and Zurich Scudder Investments jointly hired Goldman, Sachs and Morgan Stanley to work with internal staff in developing alternatives for enhancing the asset management business. Observers familiar with the hire said Zurich is looking to sell Zurich Scudder or merge it with a new acquisition.
Rolf Hüppi, chairman and CEO of Zurich Financial Services, said in a statement: "As we have stated, asset management is one of Zurich’s core businesses. We’re continually examining our options to enhance our competitive position.”
